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Packaged Nuts & Seeds Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global packaged nuts & seeds products market was valued at USD 22 billion in 2022 and is estimated to expand at a CAGR of 5.5% from 2023 to 2030. The growing demand for snacks and healthy snacking options is driving the market growth. The rising demand for packaged nuts and seeds products can be attributed to the rising health consciousness among consumers, particularly in developed countries. Consumers are increasingly looking for healthier snacking options that are rich in proteins and vitamins.
In addition, the increasing availability of innovative products is driving the growth of the packaged nuts & seeds market. For instance, in April 2021, KIND launched a new line of plant-based vegan snacks, which are a combination of nuts & seeds, grains, and dried fruits. The new product line includes a mix of vegan-friendly ingredients such as pumpkin seeds, chia seeds, oats, and quinoa. Furthermore, rising demand for organic and natural ingredients has compelled manufacturers to introduce products with natural ingredients. For instance, in December 2021, Planters launched a new line of organic peanuts and organic almonds, which are grown without synthetic fertilizers, pesticides, or herbicides.
Furthermore, increasing demand for convenience and on-the-go snacks is driving the market growth. To meet the rising demand, manufacturers are introducing a wide range of packaged nuts & seeds products in convenient packaging. For example, in November 2021, Planters launched a range of individually wrapped, single-serve salted nut bars. The bars are made with a mix of peanuts, almonds, and cashews, and can be consumed as a snack or used as an ingredient in various recipes.
In addition, the increasing trend of snacking is also driving the growth of the market. To meet the growing demand, manufacturers are introducing a wide range of flavored nuts & seeds products. For instance, in April 2021, Planters launched a new range of flavored nuts & seeds, which includes flavors such as honey roasted, chili lime, and sriracha. Moreover, the availability of these products in supermarkets, convenience stores, and online stores is also driving the market growth.
Product Insights
The roasted segment held the largest market share of around 33.3% in 2022. Roasted packaged nuts and seeds products are gaining popularity as they are considered to be a healthy snack option. Roasted nuts and seeds products are widely available in the form of plain, salted, and flavored snacks. Moreover, the convenience of consuming roasted nuts and seeds products has enabled their increased adoption among consumers.
The frozen segment is expected to register the fastest CAGR of 8.8% over the forecast period. Frozen packaged nuts and seeds products are gaining popularity due to their longer shelf life. Consumers are increasingly preferring frozen packaged nuts and seeds products over other forms due to the convenience of frozen food products. Furthermore, the increasing demand for functional snacks is driving the growth of the segment.
Distribution Channel Insights
The supermarkets and hypermarkets segment dominated the market with a share of over 44.5% in 2022. Supermarkets and hypermarkets offer a wide range of packaged nuts & seeds products, which are gaining popularity among consumers due to the availability of products at an economical price. In addition, these stores also provide a reasonable selection of products and assist customers in making rapid purchasing decisions for the required packaged nuts & seeds product.
The specialty stores segment is anticipated to register the highest CAGR of 7.4% over the forecast period. Specialty stores are gaining popularity among consumers owing to the availability of a wide range of premium and specialty products under one roof. These stores also provide customers with personalized service and advice on product selection. Moreover, customers can also taste the product before making the purchase. This factor is anticipated to drive the segment growth over the forecast period.
Type Insights
The packaged nuts & seeds segment accounted for the largest revenue share of 68.3% in the year 2022. The increasing demand for packaged nuts & seeds in various forms such as snacks, ingredients, and others such as energy bars, cereal, and bakery items is driving the market growth. Additionally, the increasing preference for health and nutrition benefits associated with nuts & seeds is likely to fuel the segment growth. Companies such as Kraft Heinz, PepsiCo, and General Mills are introducing products such as nut & seed butter, nut & seed-based snacks, and others. For instance, in March 2021, Kraft Heinz launched a new product – Planters Nut-rition Cashews, Almonds, and Peanuts – with the aim to provide health benefits.
The organic segment is expected to expand at the highest CAGR of 10.2% over the forecast period. The availability of organic nuts & seeds for various applications such as snacks, ingredients, and others such as energy bars, cereal, and bakery items is driving the segment growth. Moreover, manufacturers such as Kraft Heinz, PepsiCo, and General Mills are introducing organic products to meet consumer demand. For instance, in May 2021, PepsiCo introduced a new organic snack bar brand named “Simply Organic”, which includes organic nut & seed bars.
Regional Insights
Europe held the largest market share of over 37.2% in 2022 due to the increasing demand for nutritious and healthy food products. The health-conscious population in the region is driving the demand for packaged nuts and seeds products. The rising demand for high-quality and premium products is a major factor boosting the growth of the market in Europe. For instance, in October 2021, Green & Black’s, a premium chocolate brand from the UK, launched a range of nut- and seed-based snacks.
North America was the second-largest regional market and is expected to witness the highest growth rate over the forecast period. Increasing awareness regarding health benefits of packaged nuts and seeds products is driving the growth of the market in the region. Growing preference for convenient snacking options with a higher nutritional value is also expected to drive the demand for such products. Additionally, the presence of prominent players, such as Pepsico, Kellogg’s, and General Mills, is further expected to fuel the growth of the regional market.
Financial Projections
In this part of the packaged nuts & seeds products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your business. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for a packaged nuts & seeds products business comes from sales of the products, such as retail stores, online stores, and wholesale distribution. The sales forecast should include the estimated number of units sold and their respective prices, as well as any discounts or promotions that might be applicable.
Projecting Expenses
In this section, all the regular expenses related to keeping the packaged nuts & seeds products business running will be described. The list of operating expenses includes raw materials, packaging costs, costs for advertising, salaries for employees, rent for the facility, taxes, and other related costs. It is also important to consider any potential additional costs such as legal fees, research and development expenses, and marketing costs.
Key companies & market share insights
Some of the key companies operating in the packaged nuts & seeds market are increasingly focusing on product launches, marketing activities, and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In April 2022, PepsiCo Inc. launched a new line of nut-based snacks under its Fritos brand.
– In June 2022, Mars Inc. launched new nut-based snacks under its Snickers brand.
– In August 2022, The Hershey Company launched a new line of nut-based snacks under its Reese’s brand.
Some of the prominent players in the packaged nuts & seeds market include:
– PepsiCo Inc.
– Mars Inc.
– The Hershey Company
– Kellogg Company
– Diamond Foods, Inc.
– General Mills, Inc.
– Planters
– Blue Diamond Growers
– Conagra Brands, Inc.
– Wal-Mart Stores, Inc.
Global Packaged Nuts & Seeds Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global packaged nuts & seeds products market based on product, distribution channel, type, and region:
1. Product Outlook (Revenue, USD Million, 2017 – 2030)
– Nuts
– Seeds
– Nut Butters
– Others
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Supermarkets & Hypermarkets
– Online
– Others
3. Type Outlook (Revenue, USD Million, 2017 – 2030)
– Natural
– Organic
– Conventional
4. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What is the Potential of Product Innovation in the Packaged Nuts & Seeds Market?
[A]: In recent times, product innovation has been becoming increasingly important in the packaged nuts & seeds market. Manufacturers are introducing new products with enhanced functionalities, added nutritional value, and flavor innovations, to remain competitive in the market. Furthermore, the introduction of sustainable packaging solutions is also expected to drive the growth of the market.
[Q]: Who are the Key Players in the Packaged Nuts & Seeds Market?
[A]: The key players in the packaged nuts & seeds market are Archer Daniels Midland Company, Cargill, Incorporated, Kellogg Company, Mars, Inc., PepsiCo, Inc., SunOpta, Inc., The Kraft Heinz Company, The J.M. Smucker Company, and The Hain Celestial Group, Inc.
[Q]: Which Region Offers the Largest Opportunity for Sales of Packaged Nuts & Seeds?
[A]: Asia Pacific is expected to be the largest and fastest growing regional market for packaged nuts & seeds. Factors such as increasing population, rising income levels, and growing awareness about the health benefits of packaged nuts & seeds are expected to drive the market in this region.
[Q]: What are the factors driving the packaged nuts & seeds market?
[A]: The rise in health consciousness among individuals is expected to drive the growth of the packaged nuts & seeds market. Additionally, the increasing demand for convenience food is also expected to propel the growth of the market. The increasing demand for snacks and confectionery products, such as nut-based snacks, is also expected to drive the market.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
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